The following are pretty compelling reasons that I am in the market for a new bank for my business.

1. Compass Points program changes and problems. The program is essentially worthless based on changes in the fall of 2011. The program is now limited to a glorified advertising/referral program for vendors I don't use. Also, I’ve never received notice of expiring points from when the program was worth something. They might check with United Airlines, but I don't think systematically diluting value from a customer loyalty program is advisable especially when it is this blatant.

2. Charges for phone transfers despite the fact they are never done correctly. I have watched this service decline over the last 24 months to the point that it is almost laughable. I could get in my car and drive the funds to the counterparty and avoid delays and follow up calls necessary to make certain the transfer was completed correctly. I also enjoy being chastised by a Compass phone representative for using phone transfers as opposed to options I have already evaluated and found were not a good fit. Did I mention I pay for each transaction? That’s what I look for in a bank, condescending customer service. Compass might remind their customer service reps that I am revenue and they are expense.

3. Deactivation of business check card accounts for possible fraud and no attempt to contact the customer to let them know. It was nice of Compass to shut down my business without notifying me. To add insult to injury, the security representative explains that I was not notified because they are shorthanded. She then tells me about the $50 fee to expedite my card replacement. I guess as long as they can shut down my business, they might as well gouge me with an outrageous replacement card fee since they know I have no other option. I guess I could let the fee slide if it supports the cost structure for their 24 hour check card support line, but they no longer have one.

I think Compass can do better, especially since t